Suppose stock in Banda Corporation has a beta of .80. The market risk premium is 6 percent, and the risk-free rate is 6 percent. Banda's last dividend was $1.20 per share, and the dividend is expected to grow at 8 percent indefinitely. The stock currently sells for $45 per share. What is Bands's cost of equity capital? In addition to the information given in the previous problem, suppose Banda has a target debt-equity ratio of 50 percent. Its cost of debt is 9 percent, before taxes. If the tax rate is 35 percent, what is the WACC?